Carter's (CRI) Upgraded by Wells Fargo & Co to “Outperform”

Carter's (NYSE:CRI) was upgraded by Wells Fargo & Co from a “market perform” rating to an “outperform” rating in a research note issued on Thursday, Marketbeat.com reports.

CRI has been the subject of several other reports. Cowen set a $92.00 price objective on shares of Carter's and gave the stock a “hold” rating in a research report on Monday, October 23rd. SunTrust Banks began coverage on shares of Carter's in a research report on Thursday, December 21st. They set a “hold” rating and a $126.00 price objective for the company. B. Riley raised their price objective on shares of Carter's from $111.00 to $124.00 and gave the stock a “buy” rating in a research report on Monday, December 18th. Oppenheimer set a $112.00 price objective on shares of Carter's and gave the stock a “buy” rating in a research report on Thursday, October 26th. Finally, Zacks Investment Research downgraded shares of Carter's from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $112.69.

Shares of Carter's (NYSE CRI) traded down $0.93 during trading hours on Thursday, reaching $120.72. 925,455 shares of the company traded hands, compared to its average volume of 535,273. Carter's has a twelve month low of $77.94 and a twelve month high of $129.00. The firm has a market cap of $5,756.88, a P/E ratio of 23.22, a P/E/G ratio of 1.84 and a beta of 0.37. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.20 and a quick ratio of 1.34.

Carter's (NYSE:CRI) last issued its earnings results on Thursday, October 26th. The textile maker reported $1.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.05. Carter's had a net margin of 8.70% and a return on equity of 43.14%. The business had revenue of $948.23 million during the quarter, compared to the consensus estimate of $950.64 million. During the same period last year, the business posted $1.61 EPS. Carter's’s revenue was up 5.2% on a year-over-year basis. equities research analysts anticipate that Carter's will post 5.64 earnings per share for the current year.

In other news, Chairman Michael Dennis Casey sold 26,524 shares of Carter's stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $99.14, for a total value of $2,629,589.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Richard F. Westenberger sold 5,000 shares of Carter's stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $105.02, for a total transaction of $525,100.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 130,507 shares of company stock valued at $13,569,276. 3.10% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Carter's by 1.8% in the second quarter. BlackRock Inc. now owns 4,110,338 shares of the textile maker’s stock valued at $365,614,000 after acquiring an additional 71,765 shares during the last quarter. Amalgamated Bank increased its stake in Carter's by 21.0% in the second quarter. Amalgamated Bank now owns 9,736 shares of the textile maker’s stock valued at $866,000 after acquiring an additional 1,693 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Carter's by 2.1% in the second quarter. PNC Financial Services Group Inc. now owns 1,704 shares of the textile maker’s stock valued at $151,000 after acquiring an additional 35 shares during the last quarter. New York State Common Retirement Fund increased its stake in Carter's by 1.7% in the second quarter. New York State Common Retirement Fund now owns 246,210 shares of the textile maker’s stock valued at $21,900,000 after acquiring an additional 4,227 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in Carter's by 585.8% in the second quarter. UBS Asset Management Americas Inc. now owns 215,631 shares of the textile maker’s stock valued at $19,180,000 after acquiring an additional 184,188 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

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Carter's Company Profile

Carter’s, Inc (Carter’s) is a marketer of apparel for babies and young children in the United States and Canada. The Company owns two brand names in the children’s apparel industry, Carter’s and OshKosh B’gosh (OshKosh). The Company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale and International.

Analyst Recommendations for Carter's (NYSE:CRI)

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